Plains All American Pipeline, L.P. (NYSE: PAA)
announced today that it has communicated to the management and Board of
SemGroup that PAA has withdrawn its October 2011 proposal to acquire
100% of the issued and outstanding shares of Class A and Class B common
stock of SemGroup Corporation for $24.00 per share in cash.
A Partnership spokesperson stated that PAA did not intend to provide
further comment.
Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and
marketing of crude oil and refined products, as well as in the
processing, transportation, fractionation, storage and marketing of
natural gas liquids. Through its general partner interest and majority
equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG),
PAA owns and operates natural gas storage facilities. PAA is
headquartered in Houston, Texas.
Plains All American Pipeline, L.P.
Roy I. Lamoreaux, 713-646-4222
or 800-564-3036
Director, Investor Relations